Financial News
Written by: Ou Jiajun
2020-07-22 15:00
Last update date: 2020-07-22 15:00Despite volatile market conditions, UBS Wealth Management Asia Pacific’s pre-tax profit increased by 71% to 233 million yuan (USD ‧ the same below), setting a record for the next quarter, reflecting strong growth in operating income and sound cost management. During the period, based on the good performance of transaction income, which recorded a year-on-year growth of 32%, UBS Asset Management's investment assets in the Asia-Pacific region increased to 449 billion yuan.
In the second quarter, UBS Wealth Management's operating income in the Asia-Pacific region increased by 19% to 658 million yuan, mainly benefited from strong transaction income and net interest income, which also reflected the growth of deposit income and loans. In addition, the cost-to-income ratio also fell to 65% in the second quarter, down 11% year-on-year, reflecting sound cost management.
Lu Caiyun, co-head of UBS Wealth Management Asia Pacific, said that customers only want to protect their assets, but also want to seize market opportunities. Many customers follow the advice of the investment director’s office and continue to invest, and they also benefit from the company’s offer. Entrust investment products to help them achieve global diversified investment.
August Hatecke, co-head of UBS Wealth Management Asia Pacific, pointed out that looking ahead, it can be seen that many customers in the Asia Pacific region are increasingly interested in long-term investment opportunities in education, healthcare, technology and food technology.
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